S&P500 / US500 is trading inside a 20day Channel Down that spearheaded the technical correction from last month's All Time High.
The 1hour RSI is on a bullish divergence and within this pattern this has signalled a temporary rebound near the 1hour MA100 for a Lower High rejection.
As long as the pattern holds, a tight SL sell position there is the most optimal trade, aiming at 5450.
A crossing over the 1hour MA200, invalidates the bearish sentiment and restores the buying bias. In that case, take the loss on the sell and buy, aiming at 6040 (Fibonacci 2.0 extension).
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The 1hour RSI is on a bullish divergence and within this pattern this has signalled a temporary rebound near the 1hour MA100 for a Lower High rejection.
As long as the pattern holds, a tight SL sell position there is the most optimal trade, aiming at 5450.
A crossing over the 1hour MA200, invalidates the bearish sentiment and restores the buying bias. In that case, take the loss on the sell and buy, aiming at 6040 (Fibonacci 2.0 extension).
Follow us, like the idea and leave a comment below!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.